Today’s Trades 03.12.2018 – EURUSD, EURCAD, USDCAD, EURAUD

So far, it has been a quiet morning in the FX market with the U.S. dollar trading lower against all of the major currency pairs except for the Canadian dollar. U.S. stock futures are pointing to a higher open after Friday’s strong move but investors are reluctant to buy into the rally with a comparatively quieter economic calendar this week. There was zero data released overnight but a possible corruption scandal in Prime Minister Abe’s administration weighs on the yen crosses but its not clear whether USD/JPY has the momentum to extend lower especially with stocks pointing higher. The euro looks heavy and eyeing a move below 1.23. Sterling still has a lot of resistance at 1.39 and the commodity currencies are the best performers with the New Zealand dollar leading the gains.